Real estate options for an NRI

[IanLoup]

An NRI can invest in properties both residential and commercial in India from funds received in India or held in Non-resident External (NRE) account/ Foreign Currency Non-resident (FCNR) account (B)/ Non-resident Ordinary (NRO) rupee account. The restrictions relating to investments by NRIs have been significantly reduced by the Government of India. Income earned on letting out of property is repatriable without any restrictions.

An NRI can sell property though there are certain restrictions imposed on repatriation of sale proceeds. In case of investments made from inward remittances or out of NRE account or FCNR account (B), the repatriation of sale proceeds is permitted only to the amount of initial investment.

In case the repatriation is made out of balances held in NRO rupee account (balances include sale proceeds of house property), then an amount of USD one million per calendar year can be repatriated subject to the condition that the property is held for 10 years prior to the date of sale.

For example if a Cochin Apartment sold was the property of the NRI for 10 years and repatriation is made out of balances held in NRO rupee account, then an amount of USD one million per calendar year can be repatriated. If not, then the proceeds cannot be repatriated for the balance period.

A major damper in NRI investment in Cochin is that the NRIs can repatriate the sale proceeds only of two residential properties. It is to be hoped that this restriction will be lifted to enable greater volume of NRI investments.

[Meir]

Why people should invest in real estate in india?
You may want to show more information and to tell us about your company?

Meir

[kaleelkr]

no, he is right , if you are planing to invest in real estate best place is India.

Kerala seo company